DUBLIN, November 30, 2020 /PRNewswire/ — The “US market for alternative financial services: check cashing, pawnshops, payday loans, rent-to-own shops and money transfer services” report has been added to from ResearchAndMarkets.com offer.
This updated analysis examines the controversial ‘alternative financial services’ sector – a $36 billion a business comprised of fragmented and loosely regulated check cashing and money transfer services, payday loan services, pawnshops, and rent-to-own shops. These retail and online outlets serve the “unbanked” segment of the US population. Many companies are happy to take business from consumers with spotty credit records who need cash fast and have been rejected by banks – the 12+ million households who choose not to use traditional banks.
Today there are approximately 12,000 check-cashing stores, 14,000 payday loan outlets, 800,000 money transfer agents, 11,000 pawnshops and 10,000 rent-to-own stores. Many outlets/services overlap, offering multiple services on the same site.
The study explores the effects of the current pandemic and recession on operations and revenue, increased competition and disruption from new start-ups, industry consolidation, state and federal regulations, attitudes consumers and the shift to online virtual distribution channels.
This new study examines the nature of business, reasons for the growth of non-banking services, immigration trends, industry revenue/growth from 1999 to 2019, outlook for 2020 and long term forecast. term for 2025, average store revenues, customer demographics, key industry trends, federal/state industry regulation/fee caps, self-service check cashing machines, profit margins, franchising, buying/selling gold, global remittance trends, consumer debt levels and pivoting to online services. Research Study Results by: FISCA, Financial Health Network, Federal Reserve Board, Brokerage Analysts, APRO, Consumer Financial Protection Bureau, State Banking Departments, World Bank, INS, US Census Bureau, FDIC, etc.
Contains 19 detailed company profiles (with financial data) for:
Purpose Financial (Advance America), Populus (ACE Cash Express), Check Into Cash, Check ‘N Go,
EZCorp., First Cash, Curo Group Holdings, QC Holdings, Western Union, MoneyGram, Euronet, Earnin, Elevate, Enova, Aaron’s, Rent-A-Center and AMSCOT.
Main topics covered:
1. Introduction: scope of the study, sources, methodology
2. Executive overview of key results
3. Customer demographics: the unbanked population
4. The American Check Cashing Industry
5. The US Money Transfer Services Industry
6. The American pawnshop industry
7. The U.S. payday loan industry
8. The US rent-to-own industry
9. Reference Directory of Professional Associations and Sources
For more information on this report, visit https://www.researchandmarkets.com/r/h0dipe
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